2004 third-quarter sales: +8.9%Sales gain further momentum

Millions of euros

2004

2003

Change

First-half sales

181,7

179,4

+1,2%

Third-quarter sales

77,5

71,2

+8,9%

Nine-month sales

259,2

250,6

+3,4%

With sales growth of 8.9%, GL events registered an excellent 2004 third-quarter performance. At the end of September, year-to-date sales stood at €259.2 million, up 3.4% in relation to the previous year (2% at constant structure and exchange rates). Excluding fittings, Group businesses continued to outperform with growth exceeding 14% (12% for organic growth).

GLOBAL SERVICES FOR TRADE SHOWS, EXHIBITIONS AND EVENTS€145.5 million or 56.1% of total sales,+7.2% at constant structure and exchange rates at 30 September 2004

For the Group's historical businesses, GL events registered strong 7.2% growth for the first nine months.Through its unique offering combining extensive expertise with a broad range of solutions, the Group benefited from:- Recurrent sources of revenue from large trade shows and exhibitions. The 2004 post-summer season, in line with traditional seasonal trends, was marked by GL events' participation in several events: Maison & Objet, Première Vision, Prêt-à-porter and Who's Next (fashion), Space in Rennes (livestock), Foire de Clermont Cournon, etc- The dynamic performance of the market for large events in which the Group registered a significant volume of sales in the 2004 second and third quarters, including notably the Athens 2004 Olympic and Paralympic Games.

VENUE AND EVENT MANAGEMENT€59.1 million or 22.8% of total sales,+41.5% (+33% at constant structure) at 30 September 2004

Venue and event management continued to boost Group growth through:- The activity of the Group venues which continued to develop at a sustained pace with the Clermont-Ferrand Zénith concert hall, the Grande Halle d'Auvergne, the Toulouse Exhibition Centre and the Paris Floral Park registering the strongest gains.

- The major event of the Forum of Cultures that opened its doors in early May at the Barcelona International Convention Center, a particular success with 3 million visitors by the time it closed at the end of September. The venue now offers excellent visibility for future sales, with several major events scheduled starting in early November.

- In the event engineering and organization market, Europa Organisation continues to show strong growth momentum, and was strengthened on the 1st of September by the addition to the Group of Market Place, a French event communications specialist.

FITTINGS, SYSTEMS AND SERVICES FOR ENTERPRISES€54.6 million or 21.1%of total sales,-25.3% (-26.2% at constant structure) at 30 September 2004

The third quarter was marked by the addition to the Group of Temp-a-Store, the leading UK provider for the sale and leasing of temporary storage and warehousing solutions. Its contribution will enable GL events to become a European major player in this growth market.

While the fittings business (1/3 of this division sales) is currently being repositioned, the division's other businesses (2/3 of this division sales) have maintained satisfactory growth performances (+7% growth at constant structure) highlighted by the major contract recently awarded for the reconfiguration of the International Fine Watchmaking Exhibition in Geneva in early 2005.

CONFIRMATION OF ITS GUIDANCE FOR ANNUAL SALES GROWTH

Given the strong pace of growth, boosted by the double-digit gains by its strategic businesses, the Group remains confident about the year-end outlook and confirms its initial guidance of 5% for 2004.

Upcoming events: December 17, 2004, Extraordinary General meeting to renew the share buyback authorization granted to the Board of Directors and February 8, 2005 after closing of markets, annual sales for 2004.